NEW YORK, May 08, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Vestis Corporation (“Vestis” or the “Company”) (NYSE: VSTS) on behalf of Vestis stockholders. Our investigation concerns whether Vestis has violated the federal securities laws and/or engaged in other unlawful business practices.
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Vestis is a provider of uniforms and workplace supplies. On September 30, 2023, Aramark spun out Vestis common shares to its shareholders.
Before the market opened on May 2, 2024, Vestis announced weak fiscal second quarter 2024 results and lowered its full year fiscal 2024 revenue growth guidance from 4% - 4.5% to (1)% - 0% and lowered its adjusted EBITDA margin guidance from 14.3% to 12% - 12.4%.
On this news, Vestis’s stock price collapsed $8.31 per share to close at $10.16 on May 2, 2024, down 45.0% on very heavy volume.
If you purchased or otherwise acquired Vestis shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
